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Crypto currencies drop, US equity futures flat

Crypto currencies

Bitcoin shed 1.34 per cent to $28,594 in Hong Kong

Bitcoin dropped in Monday morning trading in Asia after failing to break the $30k resistance level over the weekend. Ether fell below the $1,900 level, while other leading non-stablecoin crypto currencies traded flat to lower. XRP led the losers. U.S. equity futures traded flat after Wall Street’s Friday rally. Stock investors have the U.S. CPI out on Wednesday for the next look at the pace of inflation and a week ahead to find out if concerns about the banking industry will wane.

Bitcoin shed 1.34 per cent to $28,594 during the 24 hours to 09:00 a.m. in Hong Kong, as per CoinMarketCap data, declining 2.45 per cent for the week. It hit a weekly high of $29,820 on Saturday, but then lost momentum.

Ether slipped 1.34 per cent to $1,882, shedding 0.10 per cent for the week. Ether broke the $2k resistance level on Saturday, but later dropped. According to Etherscan data, the Ethereum Foundation moved nearly 15,000 Ether ($30mln) to crypto exchange Kraken, a move which generally comes before sales.

Majority of other leading non-stablecoin crypto currencies were in the red during the last 24 hours, with the exception of Litecoin, which rose 0.71 per cent to $84.48, but traded down 4.71 per cent for the week.

XRP led the losers, dropping 1.88 per cent to $0.4514 and moving down 4.31 per cent for the week.

Polkadot declined 0.40 per cent to $5.64 and traded down 4.30 per cent for the past week. In spite of the price decline, the Polkadot blockchain is witnessing growing adoption from conventional finance. Deloitte stated last Thursday it had integrated KLT protocol to enhance the verification process in the company’s KYC/KYB checks.

The total crypto market capitalization declined 1.03 per cent during the last 24 hours to $1.18trln. The total trading volume dropped 24.79 per cent to $28.93bln.

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